Xconomy: Complete Genomics Stock Falls on Sales Decline, as Sequencing Gets Cheaper
Summary
Complete Genomics Stock Falls on Sales Decline, as Sequencing Gets Cheaper (Page 2 of 2) it believes it will get the samples it needs to get the work done.“It’s the normal ebb and flow of the research process.” The ISB has enough money to pay for the sequencing jobs, Reid added.It is seeking to take advantage of extreme leaps forward in speed and cost-efficiency of sequencing, while also carving out a new business model to perform sequencing as a service, rather than selling instruments to researchers who do the work themselves—the model followed by competitors like San Diego-based Illumina (NASDAQ: ILMN) and Carlsbad, CA-based Life Technologies (NASDAQ: LIFE).The Inova contract is particularly significant, Reid said, because it’s one of the early adopters seeking to incorporate genome sequencing into medical practice, not just basic laboratory research.The company expects the price of the average sequence to stabilize over the coming year, and that complete genomes will cost about $3,000 by the end of 2012.
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